State-owned companies can better mind the stores of grain

OVER 1.6 MILLION TONS OF GRAIN RESERVES in Central China's Henan province have reportedly spoiled after being stored for seven years. Nanfang Daily commented on Wednesday:

The colossal waste of grain is lamentable and could have been avoided. The grain was purchased in 2010 by a local unit of the China Grain Reserves Corporation, or Sinograin as it is known. Some of it was later deemed substandard and stored locally in accordance with relevant laws, said Sinograin, which planned to sell the unqualified grain to fodder companies and industrial alcohol makers.

The grain storage company, however, said Sinograin did not pay the storage fee and refused to give the grain back until last month when the local court intervened.